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News Breaks
February 28, 2013
12:37 EDTFIOFusion-io advances after Mizuho begins coverage with a Buy
Datacenter solutions provider Fusion-io (FIO) is climbing after Mizuho Securities analyst Abhey Lamba initiated coverage of the stock with a Buy rating and $22 target in a note to investors earlier today. At the end of January, Fusion-io provided much lower than expected fiscal 2013 revenue guidance. However, the company's fundamentals are strong and its recent weakness creates a buying opportunity, Lamda thinks. The company has a number of competitive advantages in the server-side flash storage market, the analyst explains. Specifically, Fusion-io's technology enables it to offer the most comprehensive suite of solutions that are made to accelerate datacenter traffic and increase the efficiency of applications, the note stated. Although the company has relatively few customers and that situation could weigh on the stock in the near term, it should report stronger than expected fiscal 2014 results, enabling shares to advance, according to Lamba. Fusion-io's stock could reach the mid-$20s, added the analyst. In early afternoon trading, Fusion-io rose 75c, or 4.65%, to $16.87.
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July 23, 2014
09:02 EDTFIOSanDisk completes acquisition of Fusion-io
SanDisk Corporation (SNDK), a global leader in flash storage solutions, today announced it has completed the previously announced acquisition of Fusion-io (FIO), a developer of flash-based PCIe hardware and software solutions that enhance application performance in enterprise and hyperscale datacenters. Under the terms of the agreement, SanDisk completed the acquisition for $11.25 per share for the outstanding shares of Fusion-io, and assumed unvested, in-the-money equity awards, for a total aggregate value of approximately $1.1B, net of cash assumed. SanDisk’s third quarter financial results will include the results of Fusion-io from July 23, 2014 through September 28, 2014. SanDisk expects to exclusively use non-captive memory for the Fusion-io business for at least the next several quarters.
July 17, 2014
12:15 EDTFIOSanDisk plummets after Q3 revenue outlook disappoints
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July 16, 2014
17:48 EDTFIOSanDisk says expects to be 'somewhat supply constrained' in 2H14
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13:44 EDTFIOEarnings Preview: Stifel sees SanDisk results, guidance topping expectations
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08:03 EDTFIOSanDisk announces expiration of HSR waiting period for Fusion-io purchase
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